Beacon Partners, a full service Charlotte, NC-based commercial real estate investment company, has sold Fairview Center One and Fairview Center Two in the SouthPark area of Charlotte for $33.8 million. ROC III Fairlead Fairview Center Owner LLC, a subsidiary of Marietta, GA-based Fairlead Commercial, purchased both of the office buildings, marking the company's first move into North Carolina real estate. Terms of the deal were not disclosed.
Beacon Partners originally purchased the two buildings from MetLife in May 2014 for $26.2 million, then listed the property late last year with CBRE, which also represented Beacon in the transaction. Charlie Swanson, director of office leasing with Beacon Partners, said of the decision to sell that the company instead wants to focus on midtown Charlotte and South End. "We feel like it's a good time to put them out there, and a buyer can build on what we've started to do to the assets," he says. "We feel like there's a lot of good momentum in SouthPark right now. We just want to focus our capital and resources on midtown and South End."
Located at 6302 and 6230 Fairview Road, the offices total approximately 182,000 square feet of rentable space. Fairview Center One is a seven-story, 118,893-square-foot Class-A office building constructed in 1984. Fairview Center Two is a four-story, 62,222-square-foot Class-B office building that was completed in 1968. The current occupancy rate was not disclosed, but when the buildings traded hands in two years ago they were 92% leased, with tenants including McAngus Goudelock & Courie, Zapata Engineering and First Financial Services Inc.
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